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![Will faster than expected Q2 U.S. economic growth set stage for potential Fed rate cut?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The solid growth is driven by resilient consumer spending and business investment
![EU agri-food trade surplus reaches $5.43 billion in April 2024, driven by higher prices and increased exports](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20680'%3E%3C/svg%3E)
Exports reached €19.8 billion ($21.5 billion), mainly due to increased prices of olives and olive oil
![New U.K. business growth jumps to 15-month high in July, says PMI](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Job numbers at manufacturing firms were stable in July, ending a 21-month sequence of decline
![Is Japan facing a profound demographic crisis as its population drops by over 500,000 in 2023?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20768'%3E%3C/svg%3E)
The country’s birth rate hit a record low of 730,000 in 2023, while deaths reached a record high of 1.58 million
![China’s central bank lends at lower rates for second time this week](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Central bank issued $27.5 billion in one-year loans under its medium-term lending facility operation at 2.30 percent
![India to invest $24 billion in job creation over next five years, $131.51 billion on long-term infrastructure projects](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20664'%3E%3C/svg%3E)
"India's economic growth continues to be the shining exception and will remain so in the years ahead," the minister said
![Euro area government debt rises to 88.7 percent of GDP in Q1 2024](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The highest ratio of government debt to GDP in the euro area was in Greece at 159.8 percent
![China cuts lending rates to boost economic growth following weaker Q2 GDP data](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
One-year loan prime rate (LPR) declined to 3.35 percent, while the five-year LPR was reduced to 3.85 percent
![Bank of England rate cut bets rise as inflation steadies at 2 percent target](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The Bank of England's interest reached a 16-year high of 5.25 percent in August 2023
![U.S. retail sales rise 2.3 percent in June, May data revised up 0.3 percent](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Core U.S. retail sales rose 0.9 percent in June after a 0.4 percent unrevised gain in May
![IMF revises up South Korea’s 2024 growth outlook to 2.5 percent, cites stable global expansion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
However, the IMF has slightly lowered its 2025 growth forecast to 2.2 percent
![IMF cuts Japan’s 2024 growth forecast to 0.7 percent, sees 1.0 percent expansion in 2025](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20680'%3E%3C/svg%3E)
The Fund expected consumption boost from wage increases
![China’s industrial output rises 5.3 percent in June, slows on weak domestic demand](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Retail sales rose 2 percent in June, slowing significantly from a 3.7 percent expansion in May
![France’s economy projected to grow 0.9 percent in 2024, 1.3 percent in 2025: IMF](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Real GDP grew by 1.1 percent in 2023, supported by net exports, while consumption remained weak
![U.S. Fed could start cutting rates this year but should remain cautious: IMF](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
IMF urges the U.S. government to reduce its high fiscal deficit and put debt on a downward trajectory
![U.S. inflation plunges to 3 percent, fueling bets on imminent Fed rate cuts](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
The BLS data also showed that consumer prices fell by 0.1 percent on a monthly basis
![Global wealth poised for continued growth, $83 trillion intergenerational transfer by 2040: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20680'%3E%3C/svg%3E)
In 2023, wealth growth across the world has recovered from its 3 percent contraction the previous year
![U.K. GDP grows 0.4 percent in May 2024 on greater construction, service output](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Service output was the largest contributor to the U.K.'s monthly GDP growth in May 2024
![Japan’s wholesale inflation surges to record high amid weakening yen, rising global commodity costs](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
BOJ faces pressure to hike rates on its upcoming meeting
![Fed will take interest rate decisions ‘when and as they need to be made’: Powell](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Reducing policy restraint too late or too little could unduly weaken economic activity and employment, Powell stated
![Japan’s credit profile to benefit from higher interest rates, stronger inflation outlook: Fitch](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Higher inflation helps lower the value of outstanding debt and pushes down Japan's debt-to-GDP ratio
![U.S. small business confidence at 6-month high in June despite inflation worries](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
22 percent of businesses planned to increase compensation in the next three months
![Japan’s base pay rises 2.5 percent in May, the fastest in 31 years](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Japan's nominal wages rose 1.9 percent to $1,850, marking the highest year-on-year increase in 11 months
![Japan faces shortfall of nearly one million foreign workers by 2040 to meet growth goals](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
5.91 million foreign workers are expected to be employed in Japan by 2040